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Legal Developments in South Korea

• [SOUTH KOREA] KFTC Announces Standard Distribution Agreement for F&B Businesses

  On February 15, 2017, the Korea Fair Trade Commission (“KFTC”) announced the Standard Distribution Agreement for transactions between suppliers and distributors in the food & beverage (“F&B”) industry. 
  - Kim & Chang

• [SOUTH KOREA] Supreme Court Rules that Distributor's Sales Agents Are Distributor's Employees ...

  Supreme Court Rules that Distributor's Sales Agents Are Distributor's Employees, Entitling Them to Severance Payment from the Distributor
  - Kim & Chang

• [SOUTH KOREA] MOE Moves to Further Stringently Regulate Hazardous Chemical Substances

  The Amendment to the Chemicals Control Act (“CCA”), as proposed by the MOE and promulgated on December 27, 2016, is scheduled to take effect on December 28, 2017 (the “Amendment”). 
  - Kim & Chang

• [Legal Update] Proposed Amendment to Reduce Capital Gains Exemptions...

  The Ministry of Strategy and Finance announced its proposed tax law amendments for 2018 on August 2, 2017. This tax alert highlights the proposed change to the capital gains exemption currently available to foreign investors engaged in on-the-market transactions.
  - Bae, Kim & Lee LLC

• Korean tax authorities impose KRW 300 billion of withholding taxes on software license fees, looking

  The Korean Tax Tribunal has affirmed National Tax Service (NTS) assessments totaling some KRW 300 billion (approx. USD 260 million) against Oracle Korea, as withholding taxes on software license fees paid to an Ireland affiliate (Oracle Ireland), on the basis that beneficial ownership was with Oracle Corporation (Oracle US). The NTS, in 2011 and 2015, imposed the withholding taxes based on the Korea-US tax treaty, which calls for a 15% withholding rate as opposed to no withholding under the Korea-Ireland tax treaty. The Tax Tribunal has upheld the NTS assessments, citing among other things Oracle US’s ownership of the software and control over the income, as contrasted with the minor role of Oracle Ireland.
  - Bae, Kim & Lee LLC

• [SOUTH KOREA] Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing ...

  Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing Business in Korea May Be Found to Have a Permanent Establishment 
  - Kim & Chang

• [SOUTH KOREA] KFTC Announces Its Enforcement Plan Detailing Its Focus Areas for 2017

  On January 5, 2017, the Korea Fair Trade Commission ("KFTC") announced its enforcement plan for 2017 (the "Plan"), and set out detailed policies to: (i) monitor and remedy anti-competitive structure and behavior; (ii) establish a healthy business system among large conglomerates and small and medium-sized enterprises (“SMEs”); and (iii) build a consumer-friendly environment promoting consumers’ rights.  
  - Kim & Chang

• [SOUTH KOREA] Ministry of Environment (i) Strengthens Safety/Labeling Standards for ...

  Ministry of Environment (i) Strengthens Safety/Labeling Standards for Potentially Risky Products and (ii) Introduces Biocides Act Modeled After EU’s Similar Regulation 
  - Kim & Chang

• RECENT COURT ORDER ON GOOGLE RELATED TO PROTECTING INFORMATION RIGHTS

  Korean appeals court orders Google to disclose to Korean users what personal information Google passed to U.S. government.
  - Bae, Kim & Lee LLC

• [SOUTH KOREA] Questions on Product Safety Continue, Bringing About Strengthened Regulatory Oversight

  In the midst of growing public concern over the health hazards of certain household chemical products,¹ concerns are now being raised about the safety of chemicals in other types of products, such as "quasi-drugs" (e.g., toothpastes) and cosmetics.   
  - Kim & Chang